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Commission confirms bond closing, moves forward on sewer design, school‑property appraisals and federally funded lighting review
Summary
Commissioners said $8.4 million in bond proceeds were received and are held by a trustee; staff described easement acquisition and design work for sewer projects, authorized appraisals for a surplus school property (not to exceed $10,000), and updated the commission on a federally funded lighting project undergoing environmental review.
Commission staff told the Sellersburg Redevelopment Commission on Sept. 24 that the town closed its sewer bonds on Aug. 20 and is in possession of $8,400,000 in proceeds that are currently held by a trustee and not shown in the commission’s TIF cash balance. Staff said the funds will be available for upcoming sewer projects once the town draws on trustee-held bond accounts.
Staff described next steps for two large projects funded by the bond proceeds. Design for the primary sewer pathway is complete, and staff said they are in the easement acquisition phase; staff expect to refine design details as easements are finalized and…
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